Track each closing to zero as if each closing had its own bank account.

On-Trac examines the transactions from your closing software and items clearing the bank and generates alerts of potential problems. Examples of alert categories are:

• Time Critical – result from transaction amounts expiring after a given time period such as 1st mortgage payoffs
• Suspicious Activity – un-recorded / un-allowed transactions clearing the bank account - line-of-credit draws, bank service fees, interest earnings
• File Information – file and transaction status - transactions that remain in a certain condition over an unreasonable period of time - checks outstanding for more than 30 days from date of closing or date of issue – files with more than 4 cancelled transactions
• Operational Problems – unreasonable number of voids existing in a file, untimely deposit of loan proceeds, etc.

• Closing files with overdraft Bank Balances
• Unreasonable time delay in transactions clearing the bank account
• Untimely clearing of checks as compared to the closing date
• Recent date of bank activity compared to closing date of a file
• Bank service fees posted by the bank
• Date of check / deposit vs. date of closing
• Closing files in a negative condition (debit) for an unreasonable length of time
• NSF items / charges clearing the bank
• Disbursements made to “people of interest”
• Disbursements exceeding a pre -defined tolerance amount